Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a company purchased equipment for use in the busin

A company purchased equipment for use in the business at a cost of $12,000, one-fourth...

80.2K

Verified Solution

Question

Accounting

A company purchased equipment for use in the business at a cost of $12,000, one-fourth was paid in cash and the company signed a note for the balance. The journal entry to record this transaction will include a:

a.) debit to Equipment of $3,000

b.) debit to Cash of $12,000

c.) credit to Notes Payable of $9,000

d.) debit to Notes Payable of $9,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Describe an application of multiple discriminant analysis that is specific to scientific research or to your...

Statistics
Q

The data in the table below (and available online) represent monthly gross sales for Ska Brewing...

Statistics
Q

Read the Chapter 12 Mini-Case: A Change at the Top at Procter & Gamble: An Indication...

Operations Management
Q

Find the order of each of the following elements. ( 3 , 4 ) in Z...

Advance Math
Q

Solve the following equation e 3x 9 Select one Oa 0 732 b 0 459...

Geometry
Q

Find the value of x Sho 5 14x 28 49 B

Geometry
Q

Problem 5 2 A company has a factory that is designed so that it is...

Basic Math
Q

An entrepreneur estimates his total profit (total revenue minus total cost) for his proposed company...

Basic Math
Q

An airline finds that if it prices a cross-country ticket at $500, it will sell...

Basic Math
Q

You want to use the tube method to find the volume of the solid obtained...

Calculus
Q

On January 1, Year 2 Grande Company had a $9,000 balance in the Accounts Receivable...

Accounting
Q

1. If the interest rate in the US is 5% and the interest rate in...

Finance